Trump also criticized Democrats for opposing his proposed wall on the Southern border. “Eventually the Democrats will agree with us to build the wall and keep the damn drugs out,” he said, prompting chants of “build that wall” in the room. The president criticized sanctuary city policies for allowing illegal immigrants and drug dealers to remain in the country. He called on Congress to end funding for sanctuary cities. “If we are not going to get tough on the drug dealers who kill thousands of people and destroy so many people’s lives, we are just doing the wrong thing,” he...

The biggest extortion racket in world history has been directed from the Oval Office and managed by two Attorney Generals, Holder and Lynch. Never have such vast sums been extracted from any entities and never have such sums been applied to the construct of the massive conceit of one person. Exceeding all parameters of reason, the current Administration has taken advantage of the financial assault on Americans by banks and financial institutions, to build a glorifying legacy that makes Bill Clinton jealous. For an additional measure of abuse, . . . the billions came from taxpayers. The losses from...

... Bank of America (BAC) on Thursday announced it set aside $997 million to protect from loan losses, mainly in the bank's $22 billion energy portfolio. Wells Fargo (WFC) warned of "significant stress" and "deterioration" in the oil and gas space. The problems there forced Wells Fargo to add $200 million in loan-loss reserves, its first increase to this rainy-day fund since 2009. And JPMorgan Chase increased its provisions for credit losses by 88%, mostly due to the oil, natural gas and pipeline business. It was enough to cause JPMorgan's (JPM) first drop in profits since late 2014. ...

Yesterday we reported that the ECB has begun contemplating the death of the e500 EURO note, a fate which is now virtually assured for the one banknote which not only makes up 30% of the total European paper currency in circulation by value, but provides the best, most cost-efficient alternative (in terms of sheer bulk and storage costs) to Europe's tax on money known as NIRP [Negative Interest Rate Policy].

There has been an economic coup d'etat in America and most of the world. We are now ruled by about 200 unelected central bankers, monetary apparatchiks and their minions and megaphones on Wall Street and other financial centers. Unlike Senator Joseph McCarthy, I actually do have a list of their names. They need to be exposed, denounced, ridiculed, rebuked and removed. The first 30 includes Janet Yellen, William Dudley, the other governors of the Fed and its senior staff. The next 10 includes Jan Hatzius, chief economist of Goldman Sachs, and his counterparts at the other major Wall Street banking...

Just when you thought Wall Street’s heist of the U.S. financial system couldn’t get any crazier, along comes a regulator’s report on FDIC-insured banks exposure to derivatives. According to the Office of the Comptroller of the Currency (OCC), one of the regulators of national banks, as of June 30 of this year, Goldman Sachs Bank USA had $78 billion in deposits, and – wait for it – $45.7 trillion in notional amount of derivatives. (Notional means face amount of derivatives.) According to the OCC report, Goldman Sachs Bank USA’s notional derivatives are an eye-popping 563 percent of its risk-based capital....

ouse Republican leaders succeeded last month in their quest to shut down a federal agency that helps U.S. companies sell their goods overseas, but a majority in Congress may soon have the last word.. A path to reviving the Export-Import Bank has emerged in Congress, and the agency, which has the strong backing of business groups, could be providing assistance again within weeks. Senate Majority Leader Mitch McConnell (R-Ky.) said he would allow bank advocates to include a five-year reauthorization of the agency on a highway funding bill that must pass by the end of the month. And there's enough...

NEW YORK – President Obama’s attorney-general nominee, Loretta Lynch, admitted to the Senate Judiciary Committee that her investigators in the money-laundering probe of HSBC were aware of evidence compiled by whistleblower John Cruz but she chose, nevertheless, not to bring criminal charges. Lynch provided written answers to questions submitted by committee chairman Sen. Charles Grassley, R-Iowa, in a document posted on the panel’s website dated Feb. 18. As WND reported, Lynch’s confirmation vote in the Senate initially was postponed after Sen. David Vitter, R-La., a member of the Senate Judiciary Committee, opened the investigation of Lynch’s role in the HSBC...

We don’t like to concede that a primary cause of the financial crisis was a Wall Street compensation system that rewarded executives, bankers and traders for taking big risks with other people’s money without holding them the least bit accountable. And because we don’t like to discuss such things in polite company, it is certainly unsurprising that six years later, not a single fundamental aspect of how Wall Street pays its top people has changed. The incentive system that handed out millions of dollars in bonuses to bankers and traders who packaged shoddy mortgages into securities and sold them as...

The banking industry likes superfluous language. There's "quantitative finance" for example, which (given that finance isalready a quantitative subject) is a bit like saying "aerial flight" or "wet swimming". And then there's "forward guidance". What, as opposed to backward guidance? I mean, what other type of guidance is there? Last summer the Bank of England (BoE) decided it wanted to import the U.S. Federal Reserve's forward guidance policy. In short this went along the lines of "we'll link future moves in the base rate to other external market indicators, so that as these other indicators move then so will base...

In March 2011, Reuters announced a secret order signed by Barack Obama to provide covert support for Libyan rebel forces. The operation became known as Zero Footprint, but after Obama finished with it, Big Foot was identified. For about 18 months before the attacks on our Benghazi Special Mission, intelligence had successfully identified terrorist factions inside the rebel factions. Those terrorists included the Muslim Brotherhood as well as al-Qaeda. Nevertheless, Senator John McCain said the rebels were his heroes. Qadhafi made a fatal mistake, literally, by working toward one currency for Africa, which threatened the West. The idea of a...

It doesnâ€™t get any more Orwellian than this: Wall Street mega banks crash the U.S. financial system in 2008. Hundreds of thousands of financial industry workers lose their jobs. Then, beginning late last year, a rash of suspicious deaths start to occur among current and former bank employees. Â Next we learn that four of the Wall Street mega banks likely hold over $680 billion face amount of life insurance on their workers, payable to the banks, not the families. We ask their Federal regulator for the details of this life insurance under a Freedom of Information Act request and weâ€™re...

The important-sounding Foreign Affairs Council of the European Union has recently reiterated "its strong support for Ukraine's unity, sovereignty, independence and territorial integrity." Poor, destabilized, post-putsch Ukraine is to be congratulated for receiving something none of the 28 countries that actually belongs to the EU ever does: support for its sovereignty, independence and territorial integrity. ("Unity" is a more complicated matter, given the EU's reflexive pox on separatist movements that might prefigure the breakup of the EU itself.) As the world's pre-eminent transnational entity since the breakup of the USSR, the EU is all about eradicating its members' sovereignty,...

With Ukraine no longer paying for Russian gaz, and with Gazprom making it clear Kiev has to a) first pay the overdue $2+ billion in invoice and then b) prepay some $5 billion in gas until the end of the year of Europe gets it, it was only a matter of time before the US Treasury stepped in and paid off part or all of Gazprom's demands. That time is now, when moments ago Jack Lew announced a $1 billion loan guarantee for Ukraine - very much the same way that the US provided billions in loan guarnatees for the...

"There is unprecedented, I believe, influence on the media, not just the news, but the images you see everywhere. By well-orchestrated and financed campaign of special interests, political interests and corporations. I think all of that comes into play" One month ago. long-time investigative reporter Sharyl Attkisson left CBS amid rumors that she had grown frustrated with the network stifling her investigations. Thursday night on Bill O' Reilly's Fox News program she confirmed those rumors. "There is unprecedented, I believe, influence on the media, not just the news, but the images you see everywhere. By well-orchestrated and financed campaign of...

Russia claimed Tuesday that 150 specialists from an American private military group are in eastern Ukraine, the region where pro-Russia protesters are clashing with government forces. A woman who identified herself as an employee of the group, the security contracting company Greystone, declined comment. She also declined to provide her name. Greystone, on its website, identifies itself as a “provider of aviation and protective support services and training” formerly part of Xe Services, the security contracting company once known as Blackwater. A statement from the Russian Foreign Ministry said that the Americans were wearing the uniforms of Sokol, a Ukrainian...

Last week, the big story was how bankers use HFT (High Frequency Trading) algorithmic software not only to rig markets but also to commit theft on a daily basis (Frontrunning, like Quantitative Easing, is just fancy Wall Street lingo to disguise its true meaning of theft). Though many in the public blogosphere expressed shock that stock markets are rigged and that regulators like the Securities Exchange Commission willingly allow this theft to occur, the only thing shocking about this story was how long it took this story to reach the mainstream and that people were crediting Michael Lewis with uncovering...

The population of the U.S. is 314 million. On the day Obamacare was passed, the estimate of the uninsured was 60 million. So in this context, the supposed 7 million Americans signed up for insurance on the Obamacare Exchanges, even if that is a valid number, and all of those have actually started paying premiums, both of which are highly dubious, does not mean any significant success for Obamacare. That is especially so since at least 6 million Americans have lost their health insurance due to Obamacare, so far, with more to come once the illegally and arbitrarily delayed employer...

KIEV, Ukraine — To Viktor Yushchenko, the man at the heart of Ukraine’s Orange Revolution a decade ago, March 2014 looks a lot like August 1939. Europe, once again, is at war. But Europe is also, once again, refusing to realize it and react. Yushchenko, the former Ukrainian president who has spent much of his political life at odds with Russian President Vladimir Putin, and incurred his wrath, says there should not be any doubt about what is going on: Putin’s Russia has been waging economic and information war on his country for years. It has now added a territorial...